Zephyr Energy plc provided an update on operations. Further to its announcement on 3 May 2024, the Company reported that operations on the State 36-2 LNW-CC-R well in the Paradox Basin, Utah continue to progress in line with expectations. The 12-1/4 inch intermediate section of the well was successfully drilled to the section total depth, after which 9 5/8-inch casing string was set and cemented in place.

The current hole depth is 6,010 feet measured depth. The next phase of operations will involve drilling through the Paradox formation to the target Cane Creek reservoir zone. Drilling is planned to reach a total depth of 10,362 feet measured depth (9,600 feet true vertical depth) and will incorporate a short, 270-foot horizontal reservoir section.

At the Company's non-operated asset portfolio in the Williston Basin, North Dakota, U.S., hydrocarbon production in the first quarter of 2024 was in line with management's expectations. The Company expects to provide further details in a full First Quarter update by the end of May 2024.